Logiq, a global provider of ecommerce and fintech solutions, has joined forces with Comviva, a global leader in digital financial solutions, to offer digital wallet and payment services across Indonesia.
The services based on Logiq’s PayLogiq digital wallet will be powered by Comviva’s mobiquity Pay platform, the company said in a release.
Logiq also recently partnered with Yabx, a fintech venture of Comviva to offer credit-based financial services such as cash advance for merchants and ‘buy now, pay later’ (BNPL) options for consumers.
mobiquity Pay is one of the world’s largest digital wallet solutions, powering over 70 digital financial services across more than 50 countries and will play an essential role in Logiq’s new partnership with Koperasi Mona Santoso Berjaya (KMSB).
Together with KMSB, Logiq is providing micro-lending services to members of Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK), the social security agency that provides retirement and pension plans on behalf of Indonesian government entities.
The new micro-lending services will benefit BPJSTK’s 48 million members and 600,000 small-and-medium sized businesses (SMBs).
The partnership with Comviva will allow Logiq to extend swift, convenient and secure digital wallet services to BPJSTK members and SMBs, the company added in the release.
Using Logiq’s digital wallet, BPJSTK members and SMBs will be able to perform multiple financial transactions quickly and securely, including money transfers, receiving and repaying loans, accessing insurance, buying airtime or data, paying bills or merchants—all on their mobile phone, anytime, anywhere.
“Our partnership with Comviva enables us to provide best-in-class digital wallet services to thousands of individuals and SMBs in Indonesia,” said Logiq chief strategy officer Matthew Brent.
“Digital is quickly becoming the preferred method for transactions, and the global pandemic has only accelerated that transition. By providing digital access to an array of financial services instantly from the convenience of a mobile device, we see our combined platform enhancing the lives of many people, helping to grow their businesses and boosting the country’s economic activity,” he added.
Comviva COO and EVP of Digital Financial Solutions Srinivas Nidugondi said, “Our mobiquity Pay is a feature-rich, scalable and flexible digital wallet platform that has been deployed across five continents.”
“We will bring our global expertise in digital wallets to this deployment with Logiq. The platform will enable Loqiq to accelerate the growth of digital wallets in Indonesia by introducing innovative digital financial services to transform the way Indonesians save, borrow, transfer and make payments,” he added.
Comviva Technologies Limited is a subsidiary of Tech Mahindra and a part of the $21 billion Mahindra Group. Its extensive portfolio of solutions spans digital financial services, customer value management, messaging and broadband solution and digital lifestyle services.
It enables service providers to enhance customer experience, rationalize costs and accelerate revenue growth. Comviva’s solutions are deployed by over 130 mobile service providers and financial institutions in over 95 countries and enrich the lives of over 2 billion people to deliver a better future.